NOTES | 99 33. An interesting experience evolving in Kenya is the e-warehouse system that records onsite storage and allows its use as collateral against short-term loans (See http://www. grameenfoundation.org/what-we-do/financial-services/agricultural-finance),. 34. The other question posited by Walker and Jodha refers to the effect of risk-management methods on static and dynamic social efficiency, which (if detrimental), would justify public policy for the sake of social welfare. 35. See for example Armendariz and Morduch (2010). 36. See Miranda (2009) and Collier and Skees (2014). 37. Note that each tool is distinguished by both its financial function and its source. For example, each account at a financial institution is a separate device. Each ROSCA is a different device and if it has separate functions—such as merry-go-round, accumulation, lending, and welfare—then each of those functions would be registered separately. Each source of informal borrowing, including each individual moneylender and each individual lender among friends and family, is also tracked separately. See Annex 3 for definitions of the various types of financial tools observed in the Smallholder Diaries. 38. Note that there may be multiple, distinct uses of each type of financial tool in Smallholder Diaries households (e.g., participation in two savings and credit groups, informal credit at three different stores). Each individual financial tool is counted and tracked separately. 39. When considering a household’s financial portfolio, both informal and formal financial tools, as well as physical assets, including crops and livestock, mobile phones and radios bought and sold with a clear intention of financial management, are important. Also see Kenya Financial Sector Deepening Trust (2014). 40. For additional detail and examples of smallholder households and digital finance, see also Mattern and Tarazi (2015) and Grossman and Tarazi (2014). 41. See, for example, the Purdue Improved Crop Storage triple-layer storage bag (http:// www.entm.purdue.edu/PICS3/index.php) and the POSTCOSECHA metal silo developed by the International Maize and Wheat Improvement Center (http://www.cimmyt.org/en/ projects/effective-grain-storage-project/about-the-project). 42. See Cuevas and Anderson (2016) for a discussion of variables associated with rural poverty and smallholder well-being.